The visit to Australia last week by India’s External Affairs Minister Subrahmanyam Jaishanka marked significant strides in the Comprehensive Strategic Partnership between the two nations.
The minister’s high-profile visit, his fifth in less than three years and second in 2024, reflected the deepening collaboration and regular diplomatic engagement between India and Australia.
A major highlight of the itinerary was his connection with business leaders and CEOs in Sydney. In coordination with the Business Council of Australia, these discussions aimed to fortify business and investment connections. Jaishankar underlined the transformations in India’s digital infrastructure, manufacturing, construction and skill development sectors. He pointed to the natural complementarities between India and Australia that support robust economic growth for both nations.
In Canberra, Jaishankar met with Prime Minister Anthony Albanese, who affirmed the significance of the growing bilateral partnership. The discussions underscored both countries’ dedication to regional stability and prosperity through enhanced cooperation.
India’s massive housing and infrastructure expansion and the country’s desperate bid for greater imports of both softwood and hardwoods were high on Jaishanke’s agenda and were specific on Australia’s potential to supply timber construction materials.
A key moment of the visit was the inauguration of the Indian Consulate in Brisbane, which Jaishankar described as a “milestone” in India-Australia relations.
“This is a landmark moment and certainly a milestone in our increasingly strong bilateral relationship,” he enthused.
The new consulate is expected to enhance consular services and strengthen ties with the Indian community in Australia, further cementing the bilateral relationship.
Jaishankar lauded the Indian diaspora for serving as a “living bridge” between the two countries. He acknowledged their substantial contributions across academia, business, technology and healthcare, noting that their achievements have elevated India’s profile in Australia and enriched bilateral ties.
“We have a million-strong Indian diaspora, and certainly, they are making their contribution to the vibrant and multicultural society here,” he said, emphasising their integral role in fostering people-to-people connections.
[India is set to overtake China as the world’s most populous country by the end of this year, data released by the United Nations shows.
India’s population is expected to reach 1.4286 billion – 2.9 million more than its neighbour on 1.4257 billion. The two Asian nations have accounted for more than a third of the global population for more than 70 years.
[China’s birth rate has plunged recently with its population shrinking last year for the first time since 1961.]
Meanwhile, as Wood Central reported recently, India has emerged as one of the most important export markets for the US with 116,000 cub m of softwoods shipped from the West Coast to India last year alone. Also, Canada is eyeing India as a growing ‘bypass’ market as it comes to grips with increased tariffs expected after the installation of the new Trump administration in January.
Already its fastest-growing hardwood market, the US is now capitalising on India’s booming construction industry, growing more than 13% last quarter (from 7% the quarter before) – making up for a drop in Chinese demand.
Available figures show India’s demand for roundwood will grow 70% to 98 million cub m through to 2020, driven to a large degree by a surge in construction activity, especially government housing.
The race to make up the shortfall has seen India compete with China to become the world’s largest consumer market for structural timbers, with the Modi Government grappling with a 19-million-unit shortage in housing, which will double over the next five years.
